So Europe needs to be competitive and we also need to be competitive if we wish to remain an interesting economic partner for the United States. This has to be done on the basis of strength of competitiveness.

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I'm well-travelled so I can see places coming up. I went to St. Croix in the West Indies at Christmas and it had been hit by a really bad tornado. Values there have gone down but I guarantee they will be up again in eight years. So I'll get in now while it's cheap as chips.